An employee places 99.99% pure gold bars in a workshop at the Novosibirsk Precious Metals Refining and Manufacturing Plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. Photo by Reuters
The SJC gold price rose 0.43 percent to VND70.05 million ($2,865.61) per tael on Thursday morning, its highest level since the beginning of this year.
The price of the gold ring rose 0.35% to VND57.5 million per tael. One tael is equal to 37.5 grams or 1.2 ounces.
Globally, gold held steady near two-week highs on Thursday as the U.S. dollar and Treasury yields stumbled on the Federal Reserve’s cautious approach to interest rates and awaiting a key inflation report which could offer more clarity on future policy direction, according to Reuters.
Spot gold was up 0.1% at $1,874.49 an ounce by 0110 GMT, near Wednesday’s highest level since September 29. U.S. gold futures were flat at $1,887.50.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.10% on Wednesday.